Are you aware of the benefits purchasing a home with a reverse mortgage? Such as increased purchasing power, ability to retain cash instead of tying it up in the home and increased cash flow with no mortgage payments required. (You still need to pay taxes and insurance.)
If you are planning on financing a new home purchase with “traditional” financing such as a 15 year or 30 year fixed loan. You owe it to yourself to compare traditional financing with a reverse mortgage. Prepare to be shocked. Because with a reverse mortgage:
- Flexible payment options allow you to make a payment at any time you choose in any amount you choose including making no payment at all. (You still need to pay taxes and insurance.)
- Depending on the loan option you choose, every payment you make goes into a line of credit you can draw from at any time.
- The line of credit has a growth feature. Think of it like a savings account but with a much better growth rate.
- All funds from the line of credit are tax free for you to use at any time in the future.
- You are not putting your spouse in financial jeopardy with a mortgage payment they may not be able to continue to make when you pass away.
- It creates another layer of financial security during your retirement because a reverse mortgage is less risky than a traditional mortgage.
Do not let your fear of reverse mortgages, the common myths or the gossip you have heard stop you from considering the reverse mortgage as an option for your next home purchase. You owe it to yourself to at least explore the reverse mortgage and compare it against your other options.
Call me today for a free consultation and to learn more about the reverse mortgage purchase option to see how it may fit into your retirement plans.
Matt Allen
Branch Manager | AmericanSenior
NMLS #254296
706 Cardley Ave
Medford, OR 97504
mallen@americansenior.com | www.americanseniorfinance.com
Office: 541.897.4464
Cell: 541.324.8887
Fax: 541.525.9471
†This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.
HighTechLending Inc, NMLS ID #7147(www.nmlsconsumeraccess.org) doing business as American Senior. 2030 Main Street, Suite #500, Irvine, CA 92614. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; NV Mortgage Company License #4517; OR Mortgage Lending License #ML-4386 and Servicer License #MS-139; Not all products and options are available in all states. Terms subject to change without notice. Certain conditions and fees apply. This is not a loan commitment. All loans subject to approval.